In this study, a numerical sensitivity analysis of the springback prediction was performed using advanced strain hardening models. In particular, the springback in U-draw bending for dual-phase 780 steel sheets was investigated while focusing on the effect of the initial yield stress determined from the cyclic loading tests. The anisotropic hardening models could reproduce the flow stress behavior under the non-proportional loading condition for the considered parametric cases. However, various identification schemes for determining the yield stress of the anisotropic hardening models significantly influenced the springback prediction. The deviations from the measured springback varied from 4% to 13.5% depending on the identification method.